The capital of a nation that is home to around 1.4 billion people and finances more than US$41.8 billion in venture capital, Beijing also has one of the largest domestic markets in the world. It is not surprising to see Beijing leading the way in the consumer-related startup sectors as giants like Lenovo, Tencent, Alibaba and Baidu were born in this city.
The increasingly well-known Zhongguancun district in Northeastern Beijing houses top-notch technologists, mentors, entrepreneurs, and several unicorn-hopeful startups. Experienced angel investors and VCs all hustle alike, looking for next best idea. To date, there are reportedly 40 unicorns in the city. Familiar names are Xiaomi (valued at US$46B), Meituan-Dianping (US$18B) and Didi-Kuaidi (US$34B).
There is no question that Beijing is following in the footsteps of Silicon Valley. As a bonus, it adds on the quintessential Asian startup nuances in technology, and the opportunity to follow some of its successful predecessors who have had IPO exits.